MRO » Topics » 4. Income per Common Share

This excerpt taken from the MRO 8-K filed Sep 7, 2007.

4.     Income per Common Share

    Basic income per share is based on the weighted average number of common shares outstanding. Diluted income per share assumes exercise of stock options, provided the effect is not antidilutive.

 
   
  First Quarter Ended March 31,
 
   
  2007
  2006
 
  (In millions, except per share data)
  Basic
  Diluted
  Basic
  Diluted

    Income from continuing operations   $ 717   $ 717   $ 771   $ 771
    Discontinued operations             13     13
       
 
 
 
    Net income   $ 717   $ 717   $ 784   $ 784
       
 
 
 
    Weighted average common shares outstanding     689     689     730     730
    Effect of dilutive securities         5         7
       
 
 
 
    Weighted average common shares, including dilutive effect     689     694     730     737
       
 
 
 
    Per share:                        
        Income from continuing operations   $ 1.04   $ 1.03   $ 1.05   $ 1.04
        Discontinued operations   $   $   $ 0.02   $ 0.02
        Net income per share   $ 1.04   $ 1.03   $ 1.07   $ 1.06


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